Summit Securities Group LLC Purchases New Position in Starbucks Co. (NASDAQ:SBUX)

Summit Securities Group LLC purchased a new stake in shares of Starbucks Co. (NASDAQ:SBUX) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,479 shares of the coffee company’s stock, valued at approximately $135,000.

Other institutional investors have also recently bought and sold shares of the company. Financial Life Planners acquired a new position in Starbucks during the 4th quarter worth about $25,000. Graney & King LLC bought a new position in shares of Starbucks in the fourth quarter worth about $26,000. Collier Financial bought a new stake in shares of Starbucks during the fourth quarter valued at approximately $27,000. Runnymede Capital Advisors Inc. acquired a new stake in shares of Starbucks in the fourth quarter valued at approximately $27,000. Finally, Marshall Investment Management LLC acquired a new position in Starbucks during the 4th quarter worth $30,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Trading Down 1.1 %

Starbucks stock opened at $97.73 on Friday. The company has a market capitalization of $111.01 billion, a price-to-earnings ratio of 31.53, a PEG ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46. The stock’s 50 day moving average is $105.75 and its 200-day moving average is $99.54.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same period in the prior year, the firm earned $0.90 EPS. As a group, equities research analysts predict that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

SBUX has been the topic of a number of research reports. UBS Group raised their target price on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Barclays lifted their target price on shares of Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Stifel Nicolaus increased their price target on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Argus raised Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company in a research note on Tuesday, March 18th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 target price on shares of Starbucks in a research note on Friday, January 24th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Starbucks presently has a consensus rating of “Moderate Buy” and an average target price of $106.12.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.